June 5, 2014
Silver Spring Networks, Inc. (NYSE:SSNI), a leading networking platform and solutions provider for smart energy networks, announced that Singapore Power Group (SP) has successfully begun delivering deregulated energy services to commercial and industrial (C&I) customers in Singapore. As part of the Singapore Energy Market Authority's retail contestability program, SP is leveraging a countrywide IPv6 smart infrastructure networking platform from Silver Spring to allow eligible C&I customers in Singapore to now choose from a variety of retail energy providers and purchase electricity at wholesale market prices.
'By enabling consumers in Singapore to choose their retail energy provider, we are able to bring about greater choice and savings for our consumers, while building a scalable energy infrastructure for the future,' said Wong Chit Sieng, Chief Information Officer of Singapore Power and Chairman of SP PowerGrid, the transmission and distribution subsidiary of SP. 'The transition to an interoperable and high-performance IPv6 network canopy, high service levels, and speedy deployment has been possible through strong collaboration with strategic partners like Silver Spring. This infrastructure will enable SP to continue delivering world class power supply to Singapore's consumers.'
'We're honored to partner with an industry pioneer like Singapore Power. They continue to build on world-class infrastructure to deliver increased benefits to their customers and define excellence in the region,' said Scott Lang, Chairman, President and CEO, Silver Spring Networks. 'We applaud Singapore Power on deploying a powerful network infrastructure that can easily scale to include additional smart grid or smart city applications as the program expands.'
Any SP C&I customer who meets consumption thresholds is eligible to opt-in to the program. To accommodate this opt-in approach, SP worked with Silver Spring and its consortium partner, ST Electronics (Info-Comm Systems), to deploy an IPv6-based wireless network canopy that allowed for rapid connectivity for participating customers such as retail chains, town councils, and industrial customers. Silver Spring's Gen4 technology, which includes MicroAPs with 3G wireless capability, enables SP to efficiently and reliably cover its service territory in Singapore and easily add new participants. Silver Spring's standards-based networking platform also enables SP to support a broad range of smart grid device vendors, including multiple meter types from EDMI, Secure, and Mirai, across its network as it expands.
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About Silver Spring Networks
Silver Spring Networks is a leading networking platform and solutions provider for smart energy networks. Silver Spring's pioneering IPv6 networking platform, with more than 18.5 million Silver Spring enabled devices delivered, is connecting utilities to homes and business throughout the world with the goal of achieving greater energy efficiency for the planet. Silver Spring's innovative solutions enable utilities to gain operational efficiencies, improve grid reliability, and empower consumers to monitor and manage energy consumption. Silver Spring Networks' customers include major utilities around the globe such as Baltimore Gas & Electric, CitiPower & Powercor, Commonwealth Edison, CPS Energy, Florida Power & Light, Jemena Electricity Networks Limited, Pacific Gas & Electric, Pepco Holdings, Progress Energy and Singapore Power, among others. To learn more, please visit www.silverspringnet.com.
About Singapore Power Ltd
Singapore Power Group is a leading energy utility group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia. More than 1.4 million industrial, commercial and residential customers in Singapore benefit from SP's world-class transmission, distribution and market support services. The networks in Singapore are amongst the most reliable and cost-effective worldwide.
This press release contains forward-looking statements about Silver Spring Networks' expectations, plans, intentions, and strategies, including, but not limited to statements regarding the benefits of Silver Spring Networks' solutions, as well as Silver Spring Networks' projects with Singapore Power. Statements including words such as "anticipate", "believe", "estimate", "expect" or 'future' and statements in the future tense are forward-looking statements. These forward-looking statements involve risks and uncertainties, as well as assumptions, which, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties include those described in Silver Spring Networks' documents filed with or furnished to the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Silver Spring Networks as of the date hereof. Silver Spring Networks assumes no obligation to update these forward-looking statements.
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